Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
KNITTEL C JEFFREY
   2. Issuer Name and Ticker or Trading Symbol
CIT GROUP INC [CIT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Transportation Fin.
(Last)
(First)
(Middle)
C/O CIT GROUP, 505 FIFTH AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
12/10/2009
(Street)

NEW YORK, NY 10017		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/10/2009   J(1)   55,511.4147 D $ 0 0 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (Right to Buy) $ 21.15 12/10/2009   J(1)     17,135   (2) 01/17/2015 Common Stock 17,135 $ 0 0 D  
Restricted Cash Unit (3) 12/10/2009   J(1)     47,282   (4) 01/17/2010 Common Stock 47,282 $ 0 0 D  
Option (Right to Buy) $ 2.29 12/10/2009   J(1)     50,000   (2) 01/22/2016 Common Stock 50,000 $ 0 0 D  
Option (Right to Buy) $ 56.54 12/10/2009   J(1)     5,556   (5)(6) 01/17/2014 Common Stock 5,556 $ 0 0 D  
Option (Right to Buy) $ 41.89 12/10/2009   J(1)     9,000   (6)(7) 01/18/2015 Common Stock 9,000 $ 0 0 D  
Option (Right to Buy) $ 51.43 12/10/2009   J(1)     5,883   (6)(8) 01/18/2013 Common Stock 5,883 $ 0 0 D  
Option (Right to Buy) $ 39.22 12/10/2009   J(1)     10,000 01/21/2007(9) 01/21/2014 Common Stock 10,000 $ 0 0 D  
Option (Right to Buy) (10) (11) (12) $ 51.9237 12/10/2009   J(1)     12,387 07/02/2002(13) 11/18/2009 Common Stock 12,387 $ 0 0 D  
Option (Right to Buy) (11) (14) $ 39.8704 12/10/2009   J(1)     10,462 02/05/2005(15) 02/04/2012 Common Stock 10,462 $ 0 0 D  
Option (Right to Buy) $ 34.43 12/10/2009   J(1)     18,182 05/12/2007(16) 05/12/2014 Common Stock 18,182 $ 0 0 D  
Option (Right to Buy) $ 8.47 12/10/2009   J(1)     59,970   (2) 07/17/2015 Common Stock 59,970 $ 0 0 D  
Option (Right to Buy) $ 49.17 (17) 12/10/2009   J(1)     6,250   (18) 07/18/2014 Common Stock 6,250 $ 0 0 D  
Option (Right to Buy) $ 43.01 12/10/2009   J(1)     15,000   (6)(19) 07/19/2015 Common Stock 15,000 $ 0 0 D  
Option (Right to Buy) $ 47.28 12/10/2009   J(1)     6,667   (6)(20) 07/19/2013 Common Stock 6,667 $ 0 0 D  
Option (Right to Buy) $ 37.6 12/10/2009   J(1)     20,000 07/21/2007(21) 07/21/2014 Common Stock 20,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KNITTEL C JEFFREY
C/O CIT GROUP
505 FIFTH AVENUE
NEW YORK, NY 10017		       President, Transportation Fin.  

Signatures

 /s/ James P. Shanahan, attorney-in-fact for Mr. Knittel   12/14/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Pursuant to the Modified Second Amended Prepackaged Plaln of Reorganization of CIT Group Inc. and CIT Group Funding Company of Delaware LLC, which was approved by the United States Bankruptcy Court for the Southern District of New York, the common stock, par value $0.01 per share, of CIT Group Inc. was cancelled without value upon CIT's emergence from bankruptcy on December 10, 2009
(2) Options vest and become exercisable in three equal installments on each of the 1st, 2nd, and 3rd anniversaries of the grant date.
(3) Each RCU is the economic equivalent of one share of CIT common stock.
(4) Restricted Cash Units vest in 50% increments on each of the first and second anniversaries of the date of grant and are payable in cash based on the closing price of CIT common stock on the vest date.
(5) Options granted 1/17/2007.
(6) Options vest in increments of 1/3 per year on the anniversary of the grant date for a period of 3 years.
(7) Options granted 1/18/2005.
(8) Options granted 1/18/2006.
(9) Options were fully vested as of 1/21/2007.
(10) CIT options converted on 6/1/2001 into options of Tyco International Ltd. at the rate of .6907 Tyco option for 1 CIT option upon Tyco's acquisition of CIT.
(11) Due to CIT's IPO, Tyco options were cancelled by Tyco and replaced by CIT on 7//2/2002 with CIT options vesting under the same schedule as the Tyco options. The Tyco to CIT conversion formula is disclosed in CIT Group Inc. Prospectus dated 7/1/02 "Management - Treatment of Tyco Options and Tyco Restricted Shares Held by CIT Employees".
(12) Options granted by The CIT Group, Inc. on 11/18/1999.
(13) Options were fully vested on 7/2/2002.
(14) Options initially granted on 2/5/2002 by Tyco International Ltd. vesting at the rate of 1/3 per year on the grant date anniversary for a period of 3 years.
(15) Options were fully vested on 2/5/2005.
(16) Options fully vested on 5/12/2007.
(17) Based on closing price of CIT common stock on 7/18/2007, the grant date and day of earnings release.
(18) Options vest and become exercisable in three equal installments on the first, second and third anniversaries of the grant date. Vested options first become exercisable on 07/18/08.
(19) Options granted 7/19/2005.
(20) Options granted 7/19/2006.
(21) Options fully vest on 7/21/2007.

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